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Fidelity Building 341 4th Ave 24 Unit Apartment Building $5,325,788 CAD ($221,908 CAD/Unit) 8.08% Cap Rate Pittsburgh, PA 15222
Investment Highlights
- Turn-key 24 unit, 70 bed student housing opportunity and ground-floor retail space with future upside following ABC Imaging lease expiration
- Desirable unit mix of two-bedroom and four-bedroom apartments, all with full kitchens
- Onsite laundry and security cameras throughout
- 100% occupied with a 20 year operating history. Additional income from rooftop cell tower leases, which extends through February 2045
- Located steps from Point Park University, Pittsburgh Playhouse, public transit, restaurants, and Downtown employment centers
- Value based housing offering upside for future rents
Executive Summary
SVN Three Rivers Commercial Advisors is pleased to present for sale this 100% occupied mixed-use investment opportunity located in the heart of Downtown Pittsburgh, directly within Point Park University’s urban campus. This 7-story mid-rise building, built in 1889 and renovated in 2005, comprises approximately 5,370 SF of street retail space and 5 Floors of 24 units, complemented by a long-term rooftop lease income that provides diversified cash flow.
The property has operated as student housing for approximately 20 years, with the residential units leased to Point Park students on 12-month lease terms, offering a consistent tenant base in a walkable, amenity-rich location. The building is fully sprinklered, has elevator access to all floors, and has security cameras throughout to ensure student safety. Onsite laundry is also available. Residents enjoy immediate access to campus, public transit, restaurants, entertainment, and Downtown employers. This turn-key investment offers excellent value-add potential, being one of the most affordable housing options for Point Park University students.
The property has operated as student housing for approximately 20 years, with the residential units leased to Point Park students on 12-month lease terms, offering a consistent tenant base in a walkable, amenity-rich location. The building is fully sprinklered, has elevator access to all floors, and has security cameras throughout to ensure student safety. Onsite laundry is also available. Residents enjoy immediate access to campus, public transit, restaurants, entertainment, and Downtown employers. This turn-key investment offers excellent value-add potential, being one of the most affordable housing options for Point Park University students.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Elevator
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0001-H-00309-0000-00 | Improvements Assessment | $2,475,426 CAD |
| Land Assessment | $927,965 CAD | Total Assessment | $3,403,391 CAD |
Property Taxes
Parcel Number
0001-H-00309-0000-00
Land Assessment
$927,965 CAD
Improvements Assessment
$2,475,426 CAD
Total Assessment
$3,403,391 CAD
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Fidelity Building | 341 4th Ave
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